We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
 Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The current production cut schedule prior to OPECs meeting this past week, was supposed to last until March 2018, however it has come to light that it will now be extended until the end of 2018, in an attempt to prop up prices as many of OPEC’s members continue to feel strain from the low earnings generated by crude oil sales said Gerry Lathrop, Research Analyst at Allied shipping.
Gerry Lathrop further noted, what’s more is that Saudi Arabia, OPEC leading member, has to deal with ARAMCO’s planned IPO in 2018, which could greatly benefit from the higher crude oil prices. At the same time and in order for the Saudi Government to meet their government budget requirements and reduce their reliance on their cash reserves, are looking at a price target of around US$ 60 per barrel. This is contrary to Russia’s stance who would prefer oil prices to remain lower, and apparently would prefer a target of US$ 40 per barrel at the off chance that higher prices cause the US’s shale oil producers to head to the fields again. In addition to this, OPEC members Libya and Nigeria, who were previously exempt from production cuts, have now agreed to also cap production at their 2017 levels.
This of course can have a profound effect on the shipping side, where the mere talks of a production cut has oil traders rushing to their desks to close their next deal. In short, if oil prices start to show a trend of further price gains, oil traders and refiners will rush to book cargoes, so they can price their end products on competitive level and possibly benefit from a better profit margin, increasing demand in the crude market in the very short-term. In the long-term, if the price of oil also goes up, it is likely to dampen overall demand and cause a potential slowdown in trade. This negative effect however tends to be limited given that crude oil has fairly inelastic demand.
According to Gerry Lathrop of Allied, on the non-OPEC side of things, crude oil production in the US has hit a new record production level of 9.7 million barrels per day on average for the week ending November 17th, according to statistics from the US EIA. Similarly, crude oil imports from Venezuela to the Louisiana Offshore Oil Platform (LOOP) for the period of January to November 2017 are around 7 million barrels, which is almost 3 times as much as what we were seeing during the same time frame last year (2.5 million bbls). The main reason for importing so much Venezuelan crude seems to be mainly due to the lack of availability of Saudi Arabian heavy/sour crude resulting from their production cuts. According to US customs data, imports from Saudi are down 45% from 75 million barrels to 42 million barrels for the same 10-month period. This has undoubtedly caused much of the softening in the crude tanker market of late by removing many ton miles from the market.
In any case, it will be interesting to see which direction the market will trend come June of next year, as the tug of war continues between Russia’s stance on lower crude prices and Saudi’s preference for higher prices. We will probably see the price fall somewhere in between these respective price targets during most of 2018, while if prices increases above Saudi’s US$ 60 per barrel, a relatively swift ramp up in US shale oil production should help quickly push things back down. This points to the main risk by both OPEC and Russia, with any further cost efficiencies achieved by US shale producers allowing them to capture a higher market share and even make these production cuts irrelevant to the overall market.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
|
|
|
Showing 1826 to 1830 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Australian Coal Association
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- The University of Queensland
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Planning Commission, India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
|
| |
| |
|
